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Mortgage Market Update
Maggie Wells
Maggie Wells
Wednesday, November 4, 2026
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What's your home equity worth? |
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Hi there. This week I'm looking at one of the best long-term benefits of homeownership that often goes overlooked.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Building
Your home equity is growing—here's what to do with it
Every mortgage payment you make builds equity in your home. It's one of the most powerful wealth-building tools available to everyday homeowners, and a lot of people don't realize how much they've accumulated over time. Whether you've owned your home for a few years or much longer, that equity can work for you in several ways: you might refinance to access it for major expenses, tap it for a home improvement project, or simply let it keep growing as your home appreciates and your loan balance shrinks. The key is understanding what you have and what options make sense for your situation. I'd love to help you figure out where you stand and what your equity could mean for your financial goals. Let's talk about your home equity and the possibilities it opens up.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Maggie Wells team any time and we'll walk you through your options. |
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